Bank of America will make $10 million available for deposits in community development credit unions across the country, according to the National Federation of Community Development Credit Unions.
The money was placed with the National Federation's community development investment program for distribution. The investment will be placed as deposits in credit unions across the country to provide financial support for lending and balance sheet management, the National Federation said.
The federation also called the investment the single biggest private-sector investment ever in CDCUs.
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